Thomas Hoenig, former President of the Kansas City Fed (1991-2011), former Vice Chairman of the FDIC (2012-2018), and currently the Distinguished Senior Fellow at the Mercatus Center, says that the banking system is still "vulnerable".
Two days after the filming of this interview, regulators closed Philadelphia-based Republic First Bank on April 26. Hoenig also discusses his outlook on the economy, inflation, and monetary policy. *This video was recorded on April 24, 2024 Listen on Spotify: https://open.spotify.com/show/510WZMF... Listen on Apple Podcasts: https://podcasters.spotify.com/pod/sh... FOLLOW THOMAS HOENIG: Mercatus Center Discourse: https://www.discoursemagazine.com/ Substack: https://www.finregrag.com/ FOLLOW DAVID LIN: Twitter (@davidlin_TV): / davidlin_tv TikTok (@davidlin_TV): / davidlin_tv Instagram (@davidlin_TV): / davidlin_tv For business inquiries, reach me at david@thedavidlinreport.com *This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates. 0:00 - Intro 1:30 - Banking sector still 'vulnerable' 12:30 - Bank run and financial collapse 14:50 - FDIC and cryptocurrency 18:05 - Inflation outlook 22:54 - Fed cuts this year? 24:10 - Why have a 2% inflation target? 28:39 - QE and inflation 29:54 - Fed policy and other central banks 31:50 - QT and asset prices 32:47 - Fed's forward guidance 36:00 - How Fed decisions are made 37:00 - Politics and the Fed 37:34 - Fed's performance in 2024
